China-Australia port deal to benefit local agriculture exports

Global Business

China’s Landbridge Group has been picked to help turn Australia’s ailing port of Darwin into an economic gateway to Asia. Farmers in Australia’s Northern Territory say the makeover could transform their export business.

China-Australia port deal to benefit local agriculture exports

China's Landbridge Group has been picked to help turn Australia's ailing port of Darwin into an economic gateway to Asia. Farmers in Australia's Northern Territory say the makeover could transform their export business.

The exports in the Northern Territory’s plant industries account for less than 1 percent. Those fruits and vegetables that end up going overseas have to be driven to Brisbane – more than 3,000 kilometers (1,864 miles) away.

The leasing of the port to the Landbridge Group could help change the way they do business. Landbridge plans to pump millions into upgrading the infrastructure, and transforming the port into a major export facility.

About 600,000 head of cattle passed through the port last year, but the aging facilities presented challenges. The Northern Territory Cattlemen’s Association said it is optimistic about the lease deal.